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Strategic knowledge: How KM can give clients more value

Align KM with firm strategy to create added value for clients and strengthen key relationships, suggests Harriet Creamer

20 August 2015

Law firms increasingly sell themselves on the strength of their teams' commercial and business understanding and their ability to deliver practical yet innovative solutions to clients. Despite this, general counsel continue to complain that law firms fail to grasp the commercial realities of their business.
While commercially-focused promises appeal to clients, unless they are reflected in the service which is delivered (and it
is provided consistently and at the right price), clients will react to them sceptically.

Ensuring everyone in the firm meets these promises is not entirely straightforward. Although most firms are reasonably good at collecting and disseminating legal and technical information, they are less effective at gathering and sharing expertise about clients and their relationships with the firm. Few firms take a truly holistic approach to managing the multiple sources of potentially-...

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